Investors greet Martha with a selloff

Mar. 8.05 | About: Martha Stewart (MSO)

Martha Stewart Living (ticker: MSO) shares peaked just before the domestic diva's release from prison and has been dropping ever since.

MSO closed at $25.95 today, down 31% from its 52-week high of $37.40 on February 23, 2005.  The stock is also down 24% since last Thursday, the eve of Martha's release from prison.

Quick comment:
  Its no surprise that investors decided to take profits; after all MSO shares jumped over 400% since May 2004 when it dipped below $8 per share. It didn't help to find out that ValueAct Capital, led by MSO Director Jeffrey Ubbenn, sold 932,000 shares between 2/23/05 and 3/3/05.